October 28, 2015
ETF’s Financial Fitness Checkup for Employees
November 2-25, 2015
On November 2 the Department of Employee Trust Funds will open a link to ETF’s Financial Fitness Checkup – a 10-minute online survey that will help employees assess their levels of financial wellness and knowledge. This confidential, free survey is available to all Wisconsin Retirement System members (state and local government), their families and friends, from November 2-25, 2015.
Upon completion of the Financial Fitness Checkup, employees will receive immediate feedback on overall levels of financial stress, knowledge and behaviors as well as helpful resources to point the way to a less financially-stressed future. State agency employees can use paid time to complete the survey, which is available 24/7.
State employers will receive aggregate data about their own agency’s employees – information that can be used to design a workplace financial wellness program based on employees’ needs. ETF is unable to provide data to individual local government employers about their employees. Instead, interested local employers may receive aggregate data pertaining to certain types of local government employees (e.g., school district employees, county employees and municipality employees, in general).
Why are we doing this? Employees who bring their money worries to work with them tend to be less productive and less engaged and can even raise health care costs. According to the American Psychological Association, the No. 1 cause of stress is money. In addition, the AMA estimates that stress in the workplace costs American businesses $300 billion a year in reduced productivity, unnecessary turnover and increased medical expenses.
Research shows that workplace-based financial education programs can be very effective in improving workers’ financial awareness and money-management behaviors, and they promote employee engagement and satisfaction.
The Financial Fitness Checkup is brought to you by the following partners:
- ETF and the EMPOWER campaign
- Governor’s Council on Financial Literacy
- Wisconsin Department of Financial Institutions
- Wisconsin Department of Administration
State agency employers: ETF and the EMPOWER team have made arrangements with your agency’s executive management, who will send the link to the Financial Fitness Checkup directly to all employees on November 2.
Local government employers: If you would like to share the Financial Fitness Checkup with your staff, please send the link directly to them. This link will be active November 2-25 only.
If you have questions about the Financial Fitness Checkup, please send an email to the EMPOWER campaign at ETF_Empower@etf.wi.gov.